₦airaland Forum

USDJPY

Let's go back and observe what happened to NAHCO last week.

Every single day of the week, we first saw price dip only to close each day at 2.44

Every single day of last week had a lower wick.

@rabbidoracle lower wicks are indicative of buying pressure abi?

Just a little while and that stock can take off!

emmanuelewumi:
Do you have any information about the figures, earning growth, profitability and other fundamentals emanating from the business?

That stock has a little over 7 million units in the net buy direction as at close of trading last Friday (May 15). Averaging about 5 million units per week, it is almost impossible for this net buy volume to be neutralized this week. With the excess buy, I expect a further increase in price which would end up making the VAP take out the year open.

The Volume Adjusted Price is about closing above this year 2020 open.

The current closing price since last two weeks (2.44) is also above the year open of 2.40

These are very bullish indicators for this stock.

NAHCO had at least 2 flights each week to the United Kingdom all through the period of the lockdown.

emmanuelewumi:
Just confirmed from a relative that works with NAHCO, that they were paid 50% for April 2020.


I think we should prepare for a reduction in our dividends from NAHCO

Expect a pleasant surprise if you own this stock.

@rabbidoracle,

would you like to play a few games of chess?

I have a bit of free time tonight.

I also have a chess.com account.

RabbiDoracle:
GU is a strong sell. Same with UJ.

The sentiment data shows 79% people are buying.

So you see why I do not approve of using sentiment analysis?

Except of course if you wanna trade a contrarian approach to the data given in the sentiment report.

RabbiDoracle:
Don't worry, we are waiting to see if Zenith falls to 9 like you have said and Bitcoin to 7,680.

Zenith 11.90 then probably 9.XX

We will see both events (zenith and BTCUSD) happen in not too long a distant future sir.

Sentiment Trading

Case study: Pound - Dollar

Weekly chart

Sentiment data from myfxbook

79% of traders are buying.

Now look at the chart.

Price is yet to make a higher swing high.

No higher high (swing) neither is there a higher low.

They cannot even draw a simple uptrend line yet on this weekly chart. Why then are people buying?

Godlylifeoneart:
Frankly speaking,none of your analytic tools can prevail in both 1 and 2. The best bet is sentiment.
for instance, the breweries industry is terrible at the moment, they might still test lower of the lowest. This will negate any wave pattern you might want to generate. If you are sure of your TA, you can hit the bell and ignore hypothetical view. list 2 examples of each securities and lets review them in 30 to 45 days on dz platform

Now here's the thing about sentiment trading:

People buy/sell for different reasons.

Nor be everybody wey dey waka fast for road get business appointment to catch. Na belle dey worry some and they need to use the rest room.

The herd is usually wrong. I will put up a few sentiment data in my next post (for currency pairs). Go ahead and see where price is trading at for many of the instruments with over 90% sentiment to one side.

RabbiDoracle:
52 weeks low seems safer. But the next question is "As at when?".

As at January, February, March, April or May 2020?

Because most stocks were at 52 weeks low as at March 2020.

If your option is true sir why then do Ichimoku experts say that a support level formed above the cloud is a strong buy signal?

Taking mean reversion trades just might not be as efficient as taking buy trend continuation trades.

Maybe that's why older traders warn people not to try to "bottom fish"

ositadima1:
The answer would be 2, because from a TA point of view, if all things being equal( no good_bad news) there is a high probability of reversing to it average price. I would use a donchian channel to set both trailing take profit point and stop loss.

1 is not a good strategy especially if its 52 week low is ur only basis.

Your Donchian channel is only a 10 - period envelope for price. So it only caters for 10 weeks on the weekly chart.

Can 10 periods really foretell what to expect in 52 periods? Could be used for trailing your open position but won't you rather watch for where price has reversed in previous times?

That's food for thought bro.

Here is a question that should get bargain hunters thinking . . .

Which would you rather buy:

1. A stock that is making new 52 - week low

Or

2. A stock that is trading above its 52 - week average price and has pulled back to a level of support

Bargain hunters . . . . Hmmmnnn

How true!

ukay2:
International Brewing?

Nope!

Oando

yok:
STOCKS FOR COVID INVESTMENT ISOLATION CENTRE
- Oando
-International Breweries
-Academy Press
-Notore

I have a buy recommendation for one of those four.

Entry level a bit lower though.

megawealth01:
All the gurus in the house... Pls help me...


Is GLAXO (GSK) good to go?

Check the price charts. If you see spikes, stay away feom that stock.

My recommendation.

RabbiDoracle:
Done.

Next is to break 10K and head towards 13K.

10K has switched from resistance to support.

Okay, let's allow time tell the whole story.

Good morning everyone,

time and again I have seen newbies try to get advice on which stocks to buy without putting the need for proper financial education at the fore.

I strongly recommend that newbies start with learning about how the financial markets work then they can progress into learning how to evaluate stocks before making an attempt to put money into the market purchasing stocks.

Let's learn to put a bit of proper preparation behind what we do. Get proper education first before making investments in the stock market. This way you will save yourself from tales of woe and having to pay "school fees" to the exchange as many have done in the past.

PharmAlfred:
I remember saying earlier, that we may never see the kind of low we saw earlier on. If not for CoronaVirus, all this figures that Meshpips bandied around in the past may never have happened. If not for Covid-19, GTB would not have sold at N16plus, Zenith at N10.70 etc. TA doesn't take into account pandemics and macro-economic situation.

I have also pointed out to him about the air of certainty he parades figures. Haven watched analyst at different levels including international TVs, none of them is ever sure, that's why they use the words like 'may, likely, there is a chance' etc.

In all, all opinions are are welcomed but the way they presented is equally important.

How do you see the Q1 negative growth in the US impacting the market? Germany's economy is also projected to go down by as much as 6%, ditto UK. Spain and Italy may be heading into a recession. All these might end up affecting a significant northward journey we may be expecting on the NSE.

This pharmacist sef, abeg go work on medication/vaccine for corona virus.

RabbiDoracle:
oya Mark your answer script yourself.

Rabbi,

I already mentioned that this analysis was done using the weekly time frame.

We still have how many more weeks in this year?

Please chillax and watch.

leo1234:
BTC is now $8,000

Bro, allow the week close and see what happens thereafter.

Analysis was done using weekly time frame.

If my analysis is invalidated, I will come here and say so.

Mcy56:
. . . If you cant, then someone like me will not take your advice to him with a pinch of salt.

You really don't need to.

Book wey no enter head go must enter exam hall.

I will remind you of this your post in the not too distant future.

Mcy56:
Oga Meshpips, while your advice was good, I strongly disagree with the bolded!
You said this simply because it worked for the friend and you predicted that Zenith will touch 10.90 or is it 11.90 or thereabout......again.
Do you know if purchasing Zee at 11 by the friend was mere coincidence?
I just felt your advice was one-sided without taking all other factors/risks into consideration here.
Some people took advice from faceless forum and are doing fine as well, especially when the advice is not biased and, is with a good intention.

Many times, we as humans do not trust those that we know. His friend got in at an excellent price for this year thus far. Whether it was coincidental or not, I will advice him a thousand times over to seek counsel from his friend and him alone.

Zenith will of necessity retest 11.90 and then quite possibly 9.44 before the proper buying begins.

The thing we dey find go Sokoto dey inside sokoto (trouser). He should take due advantage of his relationship with his friend.

meine:
Morning people, Thanks for the job you are doing here, i am silent reader of this group. I have N5.7 million left in my stock account Please i have the following questions,

My friend bought Zenithbank at N11 two weeks ago, he advised me to buy some unit but it hasnt gone to that price since that time , please when will it to go down or i should buy it at this N14 price? Can you also be kind enough to suggest some stocks that are cheap this week, PLease my goal is capital appreciation and dividend payment.

Hi,

your friend bought Zenith at almost the lowest price for this year (though you said two weeks ago, that stock didn't trade that low two weeks ago but it did so about 4 weeks ago).

It seems to me that your friend knows what he is doing. I strongly recommend that you take your trading advisory service from him alone.

Don't you think coming into a faceless forum to seek such advice is risky?

Just do whatever your friend says for you to do and I think you will be just fine.

All the best sir!

PharmAlfred:
There is something about how you present your point. You usually say things with certainty even when you are using tools and indicators which are lagging. These things can show you direction but doesn't always come out as seen on TA. It would be wise if you can use the words 'may, probably' etc.

How would you like to hear the pilot/flight officer tell you . . . "we are now cruising steadily at XYZ feet above sea level, we MAY get to our destination. The flight MIGHT be successful but PROBABLY would not be . . ."

Can you see the wisdom in the counsel you are giving me? In the quest to appear "humble" many traders sound that way but it is very unprofessional.

I would rather give you what criteria will invalidate my outlook or recommendation. This is the professional approach.

I choose to remain confident and refuse to condescend to the level that makes my work look like "kalo - kalo"

@rabbidoracle,

I pointed out to you that BTCUSD would sell off from the 7638 level.

Can you see the formation of a bearish butterfly on the daily time frame?

All truth is parallel.

I nor dey like argue too much again.

Let's see how the next few days will be.

My heart goes out to @currentprice at this time.

He has traded oil almost exclusively for the past few years.

With the turmoil in the market and the increased volatility seen in recent time, I do hope that he and his trading accounts are fine.

Please anyone who has a method of reaching him directly should do so, let's be sure that he is okay.

Godlylifeoneart:
@meshpips, with all the wisdom and knowledge of trading activities at your disposal, You should not be the one recommending analysts and brokers. It should be the other way round or better still, you can pioneer a firm, and we will thank you plenty.

You need to understand that I am an autodidact finance personnel. Mr Rasheed on the other hand is a chartered stockbroker.

When it is my time, others will recommend me. Also remember that I have mentioned time and again that I do not trade equities as non - leveraged market instruments are not attractive in my sight.

emmanuelewumi:
TRW Stock broker is not bad, is Mr Rasheed still with them

Yes he is sir. He actually is one of the two people I am referring to. The second is an Engineer.

Permit me to make a recommendation to those willing to learn technical analysis.

Try open an account with TRW stockbrokers. That company has got two very solid technical analysts. When I say solid, I mean it in every sense of the word.

Do your findings and thank me later.

All the best everyone.

RabbiDoracle:
Meanwhile, I am looking at BTC. It has scaled my 7,200 price limit after which it will head to 10K. I am still waiting for it to smash that your limit of 7,638. A very strong support of 7K has been established.

Greetings sir,

regarding BTCUSD let me make bold to say that I expect a selloff from the current level.

My VAP computation shows that 7638.82 is the VAP support for year 2020 till date. Approached from underneath, this level is expected to hold as a turncoat resistance.

I expect a sell from here until 5468 (maybe lower).

All the best sir.